The indicator plots the golden pocket (Fibonacci retracement 61% to 65%) of recent highs and lows. The golden pocket is calculated from the last high to the last low. The high and low are determined by the number of last bars.
The golden pocket is used for trading as support and resistance.
The length of the past highs and lows can be determined by yourself. You can define three different lengths to find the highs and lows of the past.
Versionshinweise
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The indicator plots the golden pocket ( Fibonacci retracement 61% to 65%) of recent highs and lows. The golden pocket is calculated from the last high to the last low. The high and low are determined by the number of last bars.
The golden pocket is used for trading as support and resistance .
The length of the past highs and lows can be determined by yourself. You can define three different lengths to find the highs and lows of the past.
Update: The GPs of the Hourly, Daily and Weekly are shown in all timeframes.
can somebody tell my why there are 2 golden pockets in every timeframe? i thought its just one GP, (61%-65%)
which one is it and whats the other one?
Greeting :D
vsthr
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@LucaHeinrich, in evry timeframe you see the weekly, daily and hourly GP. Its up to you what is your preferred timeframe
jlee462
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@vsthr, I still don't understand why there are two GPs for every timeframe. In total there are 6 GPs if you use the weekly, daily and hourly GPs. In my mind, there should only be 3. Can you explain?
panickyChile85473
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@jlee462, I assume the GP is printed in both directions, depending on which way you are drawing the Fibo 1 and 0.
RichoAv
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Great tool, I use this as a buy indicator in an uptrend. To validate my statement, view the charts on a 1D scale to confirm how these gold pocket levels are respected over time.
panickyChile85473
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Great script, thank you for that. I have just started to look into golden pocket trading, and your tool is a very nice visualization.
KoadzCrypto
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Hello! Can you share the script code with me by any chance ?:D Thanks!
which one is it and whats the other one?
Greeting :D